TeraFX Review
What is TeraFX?
TeraFX, an online trading platform, offers Forex trading and Contracts For Difference CFDs on Indices and Commodities'. It has an unparalleled fully regulated trading environment and robust technology.
TeraFX is based in London and offers vast trading opportunitiesthrough its platforms. It strives to satisfy the expectations of traders with diverse portfolios, sizes, and strategies.
TeraFX's proven technology, based on NDD execution, allows you to transfer your trading orders directly into the market via its many liquidity providers.
Broker: TeraFX
Minimum deposit: 100 US$
Leverage: 1:30
Regulator: FCA
Year: 2012
Platforms: MT4
HQ: UK
TeraFX Licences:
Tera Europe Limited is authorized by FCA (UK), registration number. 564741
Overview
TeraFX is a reliable broker that offers smooth account openings, a variety of funding options, and a wide range of account types including micro trading or commission-based trading.
Negative aspects include education being very basic and the lack of 24/7 support.
Pros
MT4 platform
FCA regulated
Diverse market access
Range of payment methods
Comprehensive VPS services
Cons
Limited spread transparency
Limited educational resources
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.7
Is TeraFX a safe or scam?
TeraFX, a UK company, is not subject to any local laws or standards. The UK is a well-known financial hub, which has also allowed some of the most respected financial markets to flourish and the trading regulator known as FCA.
TeraFX has been licensed and regulated by the FCA. This allows you to use the straight through process brokerage service, which ensures your safety and compliance with the rules and transparency.
TeraFX has strict money rules in place to ensure its safety. This is in addition to the hard-to-achieve capital requirements and operating standards for how a broker should deliver its services to clients. Client funds are kept in a separate account and protected by FSCS in the event of company insolvency.
Brokers' environments are constantly monitored and audited, and if there is any violation, the entire company can be suspended. These are just a few of the reasons you should only trust brokers who have been licensed and avoided offshore entities that do not provide reasonable guarantees.
Leverage
The leverage instrument is well-known. It multiplies your initial capital and can help you increase your potential gains. High leverage can also work in the reverse.
TeraFX, a UK-regulated broker, adheres to the restrictions regarding its maximum leverage.
According to the European FCA regulationretail trader may use limited leverage with a maximum 1:30on Forex instrument. Professionals and others who have confirmed it may be able to access higher leverage, up to 1:100 or more.
Types of accounts
TeraFX created 7 Account Types. Each is tailored to specific needs. Please see the specification below. A Micro trading solution will be available for retail traders of smaller sizes. Professionals and corporates alike can also use it.
Fees
There are many pricing models available depending on which account type you have. You can also check out funding and inactivity fees for the full fees.
Spreads
TeraFX incorporated its costs into a variable spread, starting at 0.6 pip.ofcourse conditions depend on which account type you trade. ECN and Professional accounts feature raw spreads with TeraFX markups, which are also determined by account type. Starting at 0.4 pips Oil Below are some spread examples. Also, compare Aetos fees with another popular broker BlackBull Markets.
SWAP fees
You should also consider swap and rollover rates, which are charged if the position remains open for more than one day. Below is a list of examples of swap fees.
What are the funding options TeraFX offers?
Once you are ready to trade live, you can deposit money using flexible funding options supported by TeraFX. This gives you complete control over your account management. These include Bank transfers, a variety of e-wallets and card payments.
Minimum deposit
TeraFX's minimum deposit is 100$. However, different account types may require different amounts in the opening state. Also, make sure you check required margins for any trading instrument.
TeraFX Minimum Deposit vs Other Brokers
Withdrawal
TeraFXcharges a 0$ fee for both deposits and withdrawals.Withdrawal options are similar to deposits, but you should always check with the payment provider in case its party charges any transaction fees also which may be applicable due to various jurisdictions' terms and conditions.
Trade Platforms
Our TeraFX Review revealed that the company chose MetaTrader4 as its mainstay trading technology.This platform is highly customizable and yet very user-friendly.
MT4 is known for its excellent charting package with additional drawing and annotations. Additionally, over 40 indicators are available to you. TeraFX also allows you to backtest strategies using its Demo account. Further, live trading is possible with minimal risk due to the diverse account range. We will go into detail.
Another great feature of MT4 are its algorithmic trading and robot capabilities. There are many EAs that can be used to trade or automate. These EAs can either be selected or managed by you using your coding skills. All in all, TeraFX offers powerful execution, as well as the ability to access VPS and trading tools, so you can make trading a success with TeraFX.
Education
TeraFX offers a wide range of trading options, as well as an attractive spread starting at 0.6. This is accompanied by education and analysis tools. TeraFX supports you with educational videos and an economic calendar.
Conclusion
TeraFX Review concluded that TeraFX is a trustworthy broker, with strong regulation, and an extremely competitive offering with great trading possibilities. We love the wide range of accounts, which allows you to tailor trading conditions and your trading strategy. TeraFX is an excellent choice for professionals and beginning traders alike, thanks to its low deposit, wide range of instruments, platforms, and support with advanced education.